{"id":1004806048,"date":"2026-07-22T04:58:11","date_gmt":"2026-07-22T12:58:11","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004806048"},"modified":"2026-07-22T04:58:12","modified_gmt":"2026-07-22T12:58:12","slug":"hines-reit-acquires-charlotte-mixed-use-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hines-reit-acquires-charlotte-mixed-use-center\/","title":{"rendered":"Hines REIT Acquires Charlotte Mixed-Use Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a60d59ec9a58&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-large is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004806049\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hines-reit-acquires-charlotte-mixed-use-center\/design-center-of-the-carolinas\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg\" data-orig-size=\"1600,1240\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Design-Center-of-the-Carolinas\" data-image-description=\"&lt;p&gt;Image from: https:\/\/www.hines.com\/news\/hines-global-income-trust-acquires-design-center-of-the-carolinas-in-charlottes-south-end&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The Design Center of the Carolinas totals 239,000 square feet of office and retail space. Image courtesy of Hines&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" height=\"794\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg?w=1024\" alt=\"An aerial photo of the Design Center of the Carolinas.\" class=\"wp-image-1004806049\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg 1600w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg?resize=768,595 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg?resize=1024,794 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg?resize=1536,1190 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">The Design Center of the Carolinas totals 239,000 square feet of office and retail space. <em>Image courtesy of Hines<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Hines Global Income Trust has expanded its presence in Charlotte, N.C., with the purchase of the Design Center of the Carolinas, a mixed-use property in the city\u2019s South End, for $170 million from Asana Partners.<\/p>\n\n\n\n<p>Located at 1930 Camden Road, the 7-acre property spans 239,000 square feet across nine buildings. The asset totals 122,000 square feet of retail space and 117,000 square feet of creative office space.<\/p>\n\n\n\n<p>The adaptive reuse property was built for industrial use in 1929 and 1946 and was converted to office space in 2008, with retail being added in 2020. It now features creative office, retail, food and beverage, wellness, lifestyle and design-oriented uses.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>LISTEN TO: <\/strong><a href=\"https:\/\/www.commercialsearch.com\/news\/commercial-design-lab-charles-bloszies-on-what-makes-building-conversions-work\/\">Charles Bloszies on What Makes Building Conversions Work<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The Design Center of the Carolinas is 88 percent leased. Tenants include Jeni\u2019s Ice Cream, Abercrombie &amp; Fitch and Patagonia. Situated in the walkable and transit-connected South End, the property has direct access to the Rail Trail and light rail.<\/p>\n\n\n\n<p>Asana Partners acquired the asset for $42.7 million in November 2016 from Ram Realty Services, according to the <em>Charlotte Business Journal<\/em>.<\/p>\n\n\n\n<p>Paul Zarian, managing director at Hines, and Jesse Amundson, senior director of development and acquisition, led the acquisition on behalf of Hines. Eastdil Secured Managing Directors Ryan Shore and Miles Theodore represented Asana Partners.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-hines-diversified-portfolio\">Hines\u2019 diversified portfolio<\/h2>\n\n\n\n<p>The property fits with HGIT\u2019s strategy of building a portfolio of stabilized assets with the potential to provide durable income. HGIT\u2019s portfolio, including properties that are part of its Delaware statutory trust program, has a gross asset value of roughly $6.45 billion and is diversified across geographies and property types.<\/p>\n\n\n\n<p>It also expands the firm\u2019s holdings in the Charlotte market and is the third acquisition in the market in three years. In October 2025, Hines <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-lands-151m-for-charlotte-retail-center\/\">acquired Birkdale Village<\/a>, a 234,418-square-foot mixed-use property in Huntersville, N.C., for $274.4 million from Jamestown and Nuveen. The firm secured a $151 million permanent loan from Truist Bank for the asset that features retail and multifamily housing.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-more-hines-global-purchases\">More Hines Global purchases<\/h2>\n\n\n\n<p>Late last year HGIT picked up Clay Terrace, a 493,000-square-foot <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-reit-pays-199m-for-indianapolis-retail-asset\/\">open-air retail center<\/a> in Carmel, Ind., for about $199 million. The previous owner was Washington Prime Group, which had owned and managed the asset for 11 years. Completed in 2004, it\u2019s one of the first lifestyle centers in the state. Whole Foods Market and Dick\u2019s Sporting Goods serve as anchor tenants.<\/p>\n\n\n\n<p>In May 2025, HGIT <a href=\"https:\/\/www.commercialsearch.com\/news\/hines-pays-267m-for-2-5-msf-east-coast-portfolio\/\">acquired two industrial portfolios<\/a> totaling approximately 2.5 million square feet in the Savannah-Hilton Head and Boston metro areas from The Davis Cos. for a total of $267.2 million. HGIT paid $194.3 million for two industrial facilities within the Georgia International Trade Center in Rincon, Ga., and $72.7 million for two distribution facilities in the Upton Crossing Industrial Park in Wilmington, Mass. The Georgia assets were acquired through HGIT\u2019s DST program.<\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The asset contains a mix of creative office and retail tenants.<\/p>\n","protected":false},"author":1068,"featured_media":1004806049,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1582,21783,21752,21742,21747,21749,32781],"tags":[33708,32797,45569],"class_list":["post-1004806048","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-charlotte","category-investment","category-mixed-use","category-latest","category-office","category-retail","category-southeast","tag-asana-partners","tag-hines","tag-hines-global-income-trust"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Hines REIT Acquires Charlotte Mixed-Use Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Hines Global Income Trust has expanded its presence in Charlotte, N.C., with the purchase of the Design Center of the Carolinas.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/hines-reit-acquires-charlotte-mixed-use-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Hines REIT Acquires Charlotte Mixed-Use Center\" \/>\n<meta property=\"og:description\" content=\"Hines Global Income Trust has expanded its presence in Charlotte, N.C., with the purchase of the Design Center of the Carolinas.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/hines-reit-acquires-charlotte-mixed-use-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2026-07-22T12:58:11+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-07-22T12:58:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/07\/Design-Center-of-the-Carolinas.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1600\" \/>\n\t<meta property=\"og:image:height\" content=\"1240\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-reit-acquires-charlotte-mixed-use-center\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-reit-acquires-charlotte-mixed-use-center\\\/\"},\"author\":{\"name\":\"Gail Kalinoski\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"headline\":\"Hines REIT Acquires Charlotte Mixed-Use Center\",\"datePublished\":\"2026-07-22T12:58:11+00:00\",\"dateModified\":\"2026-07-22T12:58:12+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-reit-acquires-charlotte-mixed-use-center\\\/\"},\"wordCount\":477,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-reit-acquires-charlotte-mixed-use-center\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2026\\\/07\\\/Design-Center-of-the-Carolinas.jpg\",\"keywords\":[\"Asana Partners\",\"Hines\",\"Hines Global Income Trust\"],\"articleSection\":[\"Charlotte\",\"Investment\",\"Mixed Use\",\"News\",\"Office\",\"Retail\",\"Southeast\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-reit-acquires-charlotte-mixed-use-center\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/hines-reit-acquires-charlotte-mixed-use-center\\\/\",\"name\":\"Hines REIT Acquires Charlotte Mixed-Use Center - 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